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Lighting up the CIGA!
The Corporate Insolvency and Governance Act 2020 (CIGA) entered into force in the United Kingdom this summer, amidst the economic and social disruption caused by the COVID-19 crisis.
The Corporate Insolvency and Governance Act 2020 (CIGA)
How will the Act impact restructuring in the UK?
United Kingdom | Publication | October 2020
The Corporate Insolvency and Governance Act 2020 (CIGA or the Act) has introduced new procedures and measures to seek to rescue companies in financial distress as a result of the COVID-19 pandemic and the resulting economic crisis.
CIGA came into force on June 26, 2020 after a speedy progression through Parliament, following the publication of the draft legislation in May. CIGA is part of the Government’s response to the COVID-19 crisis and introduces a number of “debtor friendly” measures to English restructuring and insolvency law, which up to now has been regarded as “creditor friendly”.
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UK: New Corporate Insolvency and Governance Act: Implications for ABLs
The UK Corporate Insolvency and Governance Act 2020 (the Act) came into force in June 2020.
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UK: The new Corporate Insolvency and Governance Act: Implications for the energy and infrastructure sectors
The Corporate Insolvency and Governance Act 2020 (the “Act”) introduces a number of temporary and permanent measures to restructuring and insolvency law which will affect creditors’ rights in the UK.
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UK: Corporate Insolvency and Governance Act 2020: More debtor-friendly restructuring regime?
The Corporate Insolvency and Governance Act 2020 (CIGA or the Act) has introduced new procedures and measures to seek to rescue companies in financial distress as a result of the COVID-19 pandemic and the resulting economic crisis.
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UK: Essential UK Pensions News
The Corporate Insolvency and Governance Act 2020 was introduced as a Bill in the House of Commons on May 20, 2020 and obtained Royal Assent on June 25, 2020.
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UK: Government updates its guidance on responsible contractual behaviour
This article is an update to our previous post on the government’s guidance on responsible contractual behaviour for contracts impacted by COVID-19.
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UK: Pensions Briefing: Covenant strength and deficit funding
The impact of a good overall covenant on the funding requirements of a defined benefit pension scheme and the ability for a deterioration in the covenant to result in a sharp spike in funding liabilities cannot be underestimated.
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Legislation on default consolidation of small DC pots to be included in forthcoming Pension Schemes Bill
The DWP has confirmed that primary legislation enabling the introduction of a default consolidator model for small DC pension pots (up to £1,000) will be included in the forthcoming Pension Schemes Bill expected before Parliament’s summer recess.
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Pensions Regulator publishes its first Annual Funding Statement under the new funding code
The Regulator's annual DB funding statement for 2025 was published on April 29, 2025. This statement and the accompanying analysis paper are particularly relevant to schemes with valuation dates between September 22, 2024, and September 21, 2025, now known as Tranche 24/25 or T24/25 to reflect the calendar year (previously known as Tranche 20 or T20).
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Regulator publishes market oversight report for trustees on market volatility
The Regulator has published a report entitled Market oversight: Market volatility and what trustees should do, which setting out its insight into DB and DC schemes' response to the current market environment and highlighting risks of which trustees should be aware.
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